In this paper, we examine how country insurance schemes affect policymakers' incentives to undertake reforms. Such schemes (especially when made contingent on negative external shocks) are more likely to foster than to delay reform in crisis-prone volatile economies. The consequences of country...

In this paper, we examine how country insurance schemes affect policymakers' incentives to undertake reforms. Such schemes (especially when made contingent on negative external shocks) are more likely to foster than to delay reform in crisis-prone volatile economies. The consequences of country...

We study how public disclosure of banks' risk exposure affects banks' risk taking incentives and assess the impact of the presence of informed depositors on the soundness of the banking system. We find that, when banks have complete control over the volatility of their loan portfolio, public...